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that is something that is likely. you would have to see something happening much bigger in the overall economy. i do not think it is likely. >> during the recession, new home construction dropped by roughly half. now, thanks to supply and demand, we are starting to see what could be a very robust housing market. a great deal will depend on the broader economy. connell: david, thank you. david lee miller four us in the newsroom. great story. dagen: new regulations could create a labor shortage in that industry. connell: added to my long-standing theory. nevermind. twitter founder jack dorsey teaching small business leaders how to harness attention in social media. he sat down with our friend, peter barnes. talking about rates all day long. dagen: hello. connell: hey, how's it going? dagen: that is a big move. connell: exactly.% a big move from where we were. we will be right back with more "barkett now." ♪ i want to be prepared for the long haul. ishares minimum volatility etfs. foa smoother ride. find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares by blackr
-- pumping billions and billions of dollars into the economy. is it possible that we have gone from a tech bubble to a housing bubble to a fed bubble? >> it's absolutely a risk. the real question is is this easing? all this billions and billions of dollars, trillions of dollars really of dollars the federal reserve has printed and pumped into the economy. have they created a real enduring economic expansion? can housing exist? can housing keep recovering even without ultra-cheap money? can the housing market keep rising without ultra-cheap money? can housing growth continue? that's the bet that ben bernanke has been making the past couple of years. the question is is the debt going to pay off, or will we be right back in this mess we were five years ago? >> isn't the case when former chairman allen greenspan greens retired, he was pummeled because of the housing bubble. isn't it the case, since greenspan left, we've become more liberal with our monetary supply as far as pumping more money into the monetary supply. money has been basically free for investors and businesses for the past seve
. bernanke said the fed could slow its bond line program later this year, as long as the economy keeps growing and unemployment falls. in a note to clients, renaissance marker research said we suspect the markets are significantly overreact into the process of tapering. rbc capital markets said one of the big surprises in bernanke's press conference was that the chairman did not attempt to walk back the recent rise in interest rates. bernanke said yesterday that tapering really was not that bad. kind of like taking your foot off the gas pedal in the car and hitting a nice cruising speed, not hitting the brakes. >> what he is doing is a lot like monetary drunk driving. >> we will get more clarity at the end of july. connell: thank you much. brian jacobson for us next. it is always good to have brian's point of view. to what level is your anxiety level at this stage? >> my anxiety level is very low. i understand that they have a centrally planned economy. they can marshal resources to prop up their banks if necessary. i am not concerned about the federal reserve cutting back on their ass
tapering i think will be symbolic. we have inflation high and i don't think to the economy is quite making it out what the fed is meant to be. i think we will see a bounce back here. >> would you say you want to buy here or wait and see if things settle out in more after wash-out? >> i would start to get money involved here. even during the run-up waiting for an opportunity to get into the market. here is an opportunity. you don't have to put everything in but it is time to move some money back into the market, cheaper valuations here. >> michael pento, how do you see it? >> first of all, mr. bernanke is a very confused man. he launched qe4 in january. january of this year. not only six months later, not even six months later, he lowers his growth forecast, takes down dramatically, his inflation outlook, and then for the first time ever, outlines a time line where he's going to get out of his quantitative easing strategy. so he surprised a lot of people on wall street and i got news for mr. bernanke. he does not control long-term interest rates and he has this economy 100% addicted to his
economy. the federal reserve raises its predictions for growth and jobs. anthony mason on the new outlook. the director of the f.b.i. surprised many today with a frank answer to this question: >> does the f.b.i. use drones for surveillance on u.s. soil? >> pelley: bob orr on the f.b.i.'s program. this is supposed to be the answer to america's biggest nuclear contamination problem, but it's billions over budget. carter evans investigates. and ken moreis' great-great- great grandfather is a giant of american history. jim axelrod on how a powerful legacy changed one man's man'sn. mission. >> frederic douglas said it's easier to build strong children than repair broken men. captioning sponsored by cbs >> pelley: good evening. it doesn't happen very often but it happened today-- the stock market plunged in reaction to good news. the news from the head of the federal reserve was that the economy is doing better. here's the part wall street did not like. ben bernanke said the economy is doing well enough that the fed is likely to ease back on one of its stimulus programs, a bond buying program t
economy, then you're going to be shocked by the report "rolling stone" has for us tonight. that's coming up. also a shocking turn of events on the house floor as the house speaker brings crucial legislation to the floor and watches it go down in flames. i'll tell you why what's bad for john boehner is good for the country. >>> plus bailouts of struggling casinos? it is also something that is totally happening. we begin tonight with a truly rare bit of genuine progress from congress. excellent news that nonetheless has me seething with anger. here's what's happening that's great news and infuriating. making sure 11 million immigrants are given a road to citizenship is trying to pass a bill by a huge margin in the senate. they are called the gang of eight and the reason they think they need the huge margin victory is to put pressure on house speaker john boehner to bring the legislation to the house floor even though it it will almost certainly not have the support of a majority of house republicans. so that's the game plan. the goal is get 70 votes in the senate, a goal that has seemed, w
free economy. hastenshe dayhat the fed star tightening. add to that bernanke's laying do of punitive timetables which he said umpteen times is tentative. may not to a defense and the economy. the market does not want to hear any of that. if he says that the assumption is, oh, he will sto doing it tuesday are something like that, which is that goingo. lou: he made big references to ininflation. he made references to employment or at least the six and half percent levels part of construction for his decision . is a lite surprising to me. and it suggested that he does want to accelerate thigs year. are there signs that this quantitative easing combined purchasing program, this is having a n negative, a deleterus effect on the fed's goals? >> i do not believe so. it is not -- it is nothe sort of thing you would think would drive down inflation. inflation has fallen well bew the fed's goal, but -- but the people who are worried about qe are worried about the other direction, ilatiary. it probably has added something to economic growth. mainly, but not exclusively throughower mortgages, mo
havto a ourselves is this economy ready. therthey see bernanke stepping k saying it will not happen immediately but it is going tt happen. it has the investors very concerned. charles: and economy bumping along at 2% per year, is it worth it? >> we should not lose sight of the fact ben bernanke, is reflected the most basic level the economy is improving. we are not facing the crisis we have faced for so many years now. reacting to what the meanings of these things are, but i choose to see it as the cup half full, getting the worst behind us. which is very encouging news. charles:t them, what do you make the idea of the stock market should come down hard and fast what is supposedly good news. >> everyone who is in the market has to choose what it is they are interested ins an investor please send i am an investor. i don't care wt happens today or yesterday with my personal investment in the way i approach the market, that is sobody else's problem. those people i am not saying they'rr using poor judgment or ting irrationally, i choose to understand tt the long-term is looking pretty g
for coming on tonight. >> no problem. gerri: in an unrelated story, is the economy about to hit the brakes? there s been slowdown for the past three yers. keedy aided if this year? with more on this, we have with sam saunde a chief investment strategist f crles schwab. i want to get to this idea of the economyn just a second. but first, i would like you to respond to his pink newspaper about how be bernanke may indite exactly what he'soing to apply th bakes on eing this week. we expect to hear from him on weesday. what do you say? >> i'm notso sure that that is shocking news. this has been building to the point where it actually starts tapering off. they he been transparent. to think about thisafew months in advance, i'm not so se that i understd why this is newswort be one youmay be calm, but the markets were ot. where do you thi the professional traders are thinking about this right now? >> the market is having little tantrums. but it's not a big surprise. we know wh the fed has done is unprecedented with quantitative easing and that thy'll attend there will be many steps between now and
the food away, and buy one lobster and get one lobster, and it is bad. darden blames the economy for people not spending at lo of money to buy the breadsticks. i don't want to hear that. >> and meanwhile, we think that the economy is improving and yesterday the numbers in a different environment most likely would have been positives for the equity market, but we are not overwhelmed by the worries of the philly fed, and numbers that most people thought were better than they thought it would be. >> and i look at the bonds and how is the 10-year, strong. okay. buy me 50,000, whatever. we are in one of the moments and if we are not looking at the bonds, you know, having fun. >> and something else that people were looking at is the chinese shibor. we don't talk about it a lot. >> right, something that can jump up to bite you. >> and the rate has come down overnight, and they are trying to tighten up the money supply, and tighten it up, and the corporate inflows are not as strong as they might have originally been for china, but all part of the plan in a way of 300 million people, and 15 years to
? >> dramatically over forecasting the economy fourteen years, th last one ended and tre's never been 14 years like that. we are going to have wage growth of 5.3% a year so if you adjust real world super economics, you're lookin at this. neil: sometimes you cannot not so sober and surprises. like 14 years ago you could have argued this. you coud have pleasant surpris. neil: what you think about this? only bring you an internet boom? >> well, edge was a chnological development and a great thing. neil: we are not always sold by3 this. >> the fed clearly is. we have a decade packed with zero interest rates and we are not always intervening in this way. >> well, they ought to op right now. but thmarket i totally hooked on this monetary heroism. then they wiegin to per back or reduce the85 billion. neil: so they should resist the hiy fit and moveon? >> yes, that is what they have been unwilling to do ever since greenan punted in 1998 at the long-term capital time. time after time they have been doing the me thing. ne: how much higher do you ink the interest rates would be? >> we are raid of the bogeyman
. hurting the economy more than it has helped. editor-in-chief steve forbes, great to have you with us. qe appears to be at an end, sort of. $85 billion continues, the rates are moving higher, so that will be problematic. your thoughts on the timing on all of this by the fed chairman. >> three years late, better late than never, what ben bernanke has done inadvertently this make it easier for the government to deficit spending, get back on their feet, issue new bonds but for the rest of the economy, smaller businesses like with what they said in russia, health care is free but you can't get any. they are the job creators, they are hurt by what bernanke did. not much left for the small guys. lou: a lot of limited government, some of them are anti-fed. oh, my gosh, we cannot conclude it a $5 billion per month. i do not like what he has done, bbt don't let him reverse course here. there is a chorus of hypocrisy in pleading for more punch bowl, please. >> it is hard to give up when you have it. bernanke will not do this precipitously, will not do it rapidly. the market has grossly overreacted
about the underlying economy. >> it's the economico outlook. >> you don't think he'll use the word? >> i don't think he'll use the letter. >> people will ask questions. >> but as long as -- as long as it doesn't start with a t. if there is a t in the world somewhere, he may use it. >> we could have a drinking game. first question has to be about tapering. will use the word taper. >> either tape ever or your ter. >> i was at a party with a drinking game, but it was with lemonade. makes no sense. they're practicing for the day when -- legmonade, you'll just get sick. >> that's okay. learn a lesson. >> i know. >> let's take a look at europe. again, futures are indicated higher and that may be because the expectation is that the fed will in fact slightly lower their economic outlook. if that he another case, you would expect they would not be pulling qe anytime soon. but right now the market is barely bunching in europe. in asia, you can see the nikkei was up about 1.8%. so volatility continues there. hang seng down by just over 1%. oil prices right now are indicated up about 50 cents. wti i
the mexican economy h done better. we buildger, stronger fences. john: as the border patrol now we are here? >> oh, yes. john: hou later they showed up. >> filming a segment. i intend donald -- n donnelly. john: after that t left them alone. once more fences. >> is this your ideal fans? >> this is gd. it forces people who want to smuggle somethin to go to a high point where law-enforcement border patrol agents can eily see they have been interdicted. we oug to secure it. john: a problem with the current fans. >> here is this biggeffective miti dance. impervious, scalable. then all the sudde it just hands. this right he is absurd. >> despite the billions we have spent, there are still lots o balls in the fence especially the older part. >> this looks like a ptty good-sized already your. >> this is an area thate have volunteers who came down with a welding track and well that up these holes. i mean, it is patchwork. >> i'm touching mexico. john: not that hard to get over the fence. drug dealers build ramps. this car happens to get stuck. nnedy found it was pretty easy to climb theence. >> you
're seeing is ben bernanke is taking the training wheels off the economy. or will eventually be taking the training wheels often by pulling out all the quantitative easing, all the bond buying the fed has been doing. several rounds of this quantitative easing. it's boosted house prices. it's kept mortgage rates down. everybody's nervous when the fed stops buying up all these bond, the economy might not perform all that well and stocks are going to look a little expensive. so that's why you're seeing stocks sell off. that's why you're seeing mortgage rates go up. the ten-year treasury note is rising. the highest it's been in a couple years. think of ben bernanke as a drug dealer, he's taking the drugs away from the economy. >> everybody coming down from that high, as it were. the president in a conversation with charlie rose hinted bernanke would not serve a third term as fed chair. i'll play you a sound bite from that conversation. and then get your thoughts. >> ben bernanke's done an outstanding job. ben bernanke's a little bit like bob mueller, the head of the fbi, where he already s
into the economy each month. >> gradually reducing the pace of purchases. >> reporter: the second, overnight thursday bad news from china. manufacturing production fell. the economy isn't growing as fast as it had been. the pros say this was bound to happen after months of gains and record highs. in fact, the fed pulling back is a sign the economy is getting better. >> there's no fear or panic going on. we know it's going to be a nice, slow, orderly process to see if our economy can stand on its own again. >> stocks were only part of the bad news. a metal meltdown. gold, the filter is dropping like a rock, losing a quarter of the value this year. don't be afraid to peek at your 401(k). after yesterday's dramatic drop, the dow was up 12.5% this year. >> everything was moving yesterday. interest rates on treasury bonds hit a two-year high. higher mortgage rates, higher car payments could be around the corner. don't despair. stock futures in the u.s. are up a little bit so far. we'll keep monitoring it. >> you used a swear word before we went on air. >> i did. i said darn, that was a horrible d
>> talk about how you're going to turn the economy around. >> adios. >>. ♪ >> oh, sometimes i wish i was on the same stage with those guys. no, i'm not running. but i love to talk about them. here he is, again, he's back at it. slick rick perry. the governor of texas. it is all hat and no cattle. just wrapped up a five-day poaching tour for jobs in the northeastern portion of the united states. now, how many liberals are up in the northeastern portion of the united states believe a texas brain drain here. the texas brain wizard planted his cowboy boots here in new york city and in connecticut across the river hoping to rope in some business leaders to taking jobs to the lone star state. the governor's main message, very simple. no regulation and no state income tax. sounds really good, doesn't it? perry even put together this web video slamming new york and talking up texas. >> if you just took the book of rules and regulation in new york state. 49,000 pages and one reason small business owners tell us that new york is such a hard place to do business. >> a lot of the business owners
is making out, you know, like a bandit and what i found is we basically had been living in two economies in this country for the last ten years. there's the economy where you and i know where people are hard pressed jobs are tight and money is tight and then there's the healthcare economy where everybody is doing really well except maybe the nurses and the doctors but the people that sell the equipment, the people that make the drugs, the people that run the allegedly nonprofit hospitals are all making ridiculous amounts of money. >> so you mean the doctors who spend 12, sometimes 15 years just preparing to be a doctor are making less money. >> far less unless they got in the system so they started a clinic where they can send patients or they're consulting for a drug company, they're not making the big bucks. the guys who make the cat scan equipment or the pharmaceutical sales men and executive, the hospital administrators, your local nonprofit hospital without even knowing it, i can tell you that the guy who runs your local hospital in little rock makes well over $1,000,000 and a half
scaling back later in the year. if the economy continues to improve. peter barnes with the news live in washington. that's a stupid reaction, peter. >> well, shep, the feds said that it could be getting ready to scale back the easy money policies that wall street really likes. it's been using them for the last five years to help keep the economic recovery going after the great recession. and for starters, it said it could slow its controversial 2.5 trillion-dollar bond buying program known as quantitative easing. basically printing new money. qe has helped keep interest rates low foruto loans business ratings. the feds said it could start buying fewer bonds if the economy gets better and that unemployment rate keeps falling and then maybe it could stop qe all together next year if the rate gets close to 7%. >> the 7, 6.5, these are guide posts that tell you how we are going to be shifting the mix of our tools as we try to land is ship on a, you know, on a smooth -- in a smooth way into the -- unto the aircraft carrier. >> so just the idea that easy money could be ending soon, spooked
it a turn around in a sign maybe the global economy is turning ? >> i do not aee. i think when revenues drop, there are all sts of ways that customers as we've seen, that can impact the bottomine, by one, just being mere efficient. -- more efficientbut what a revenue dropsith a fedex or ups that is a sign of the economy not only flat lining but continui to slide down, that is why i think that we're going to be in trouble. yo know come next few months. ne: dave, topine thing begins top out, watc watch out. >> a gd news-bad news thing with them, revenueas up a little bit but not to exctations, and on thatront, i wld say, yeah that is not a good signal about the economy. not a big beats. neil: but. down a broad. -- abroad. >> it was down. neil: speaking of a quagme not getting any less qaagi e . >> you are right. >> here is the thing. using technology to drive costs out. the math they continue to do that that is a good sign because everything needs to do that. neil: l right, if at first you don't succeed find a better way to get them tpend, walmart all but admitting be on visa, temping to dislo
been down. overall it has been down, they are cost-cutting it will help the bottom line, economy showing some life. if you have been on a plane they are jam-packed. neil: how can that be pleasant? jared, i know you don't know what commercial flying is, but how can it be pleasant? >> i am just not, i am a new pilot. i fly privately. neil: listen to you. >> no, no, i wish i could live the life captain of a major airline 30 years ago. you get on a plane now, it is like a cattle ride, we have gotten okay with that, but i don't think that buying an airline is a good investment, they are bound by the price of oil, they are cutting costs yes, they are making planes more fuel efficient, but again this is predicattd on oil, and communication that changes. neil: but, do you buy that people are happier with this experience, i do not. >> no. neil: i think they are interviewing zombies. >> the plane is full. neil: you could have a blaine full of zombies. >> no matter what you carry, buy the stock, demand it there. >> okay. >> housing starts? you have who to wonder -- you have to wonder with l
. new at 6:00 we asked len ramirez if the silicon valley economy is humming, why so many layoffs? len? >> reporter: well, for some companies, it's humming along. for symantec, unfortunately, it is not. symantec officials are not officially commenting on the number of layoffs but it is expected to be very significant. and when a company this size does something like that, it has definite ripple effects throughout the local economy. it is one of the biggest and most well known companies in silicon valley. >> symantec. >> reporter: a coffee roasting manager knows many of symantec's 21,000 workers as regulars and friends. >> hey, how's it going? >> reporter: her shop is just two blocks from the sprawling symantec campus and takes in about 10% of its sales from symantec catering orders and walk-ins. >> to 7:30 it's like line out the door sometimes both ways. >> reporter: now she is afraid the lines and the business will begin disappearing. symantec is in the middle of a companywide transformation and reorganization that will reportedly cut 1700 jobs, potentially one of the big job upheaval
that pitted him against his unlikely challenger in 2014. tough economy, we're talking about jobs in the state here. you're talking about somebody who molloy has made clear he might have his eye on the national stage a little bit. he has to get by in 2014. how does this issue affect him with perry coming in and maybe losing gun jobs a little bit. >> it's a choice he's going to have to make. between jobs and votes, really. when it comes down to it. i think he wins on the vote side. the national attention on this issue and at least in the northeast, perry will be vilified. i would love to see him meet up with chris christie. >> nobody is going to say that this year. >> it's a delicate balance that he's going to have to walk. i'm sure the nra is going to be going after him should some of these manufacturers leave. so, it's clearly an important calculation for perry to strengthen his national credential. ultimately i think molloy will be fine because he'll be fine on this issue and he'll bet support from around the country. >> i wonder how the et voers in connecticut would feel about it because th
and 2011. their take went from 10% to 20% of the whole. we live in a superstar economy. >> e.j., we live in a superstar economy. you base your column in a speech that was actually given by alan krueger at the rock and roll hall of fame in cleveland. talking about the dangers of growing in come inequality. we hear it from the left and the right. alan greenspan says it's one of the greatest threats to american capitalism. what do we do about it? >> there's a number of things we can do about it. i thought the speech was very powerful because how do you get people to talk about inequality. putting it into the context of rock, the theme really is, it's a long way to the top if you want to rock and roll. the difference between the top and the bottom is bigger. i think we're taking some steps already on taxation. i think we need to do a lot more to help people at the bottom end of the economy stay in school longer, go to community college. i think that's part of it. but we also need just a fair bargain between labor and capital. justin wolfer, the economist, put out some charts yesterday that s
changes to make there, but the really big news on the economy came yesterday. obviously, with ben bernanke. >> joining me is former treasury official and analyst steve rattner. also, we have new york times reporter jeremy peters. good to have you both onboard. we'll start with ben bernanke. he expressed confidence in the nation's economic growth yesterday saying the fed will start to rein in its stimulus program later this year. bernanke laid out the federal reserves plan, which includes tapering off its multibillion bond-buying program until the unemployment rate drops to 7%. the fed expects that to happy the middle of next year. >> that's great news, right? >> in some way. >> so that's the good news. what bad news could there be from that, steve rattner. >> i think we'll find out. >> the fed will also hold off on raising interest rates keeping them to near zero until unemployment falls to 6.5%. as for wall street's response, this may be where things change. the markets took a dive as soon as bernanke started speaking. by 3:05 the dow fell 140 points closing the day down more than 200, st
this whole package of islamism and success for the economy. he took the show on the road. he took that package to all of the arab states, the so-called arab springs. even as these protests were raging in his own country, he was touring morocco and indonesia. i was in istanbul and watching him pedalling his package to the north africans while his country was boiling. so i think the package that erdogan presented to the world, this idea that develops the economy has been severely damaged in the last event. >> always great to see you. we thank you so much for your insights on what is obviously a troubling situation there in that part of the worth. thank you for joining us. >> thank you very much. >>> wildfires rage on in colorado springs. we're going to go there live on a fire that has burned 15,000 acres as of friday. stay with us. hey. they're coming. yeah. british. later. sorry. ok...four words... scarecrow in the wind... a baboon... monkey? hot stew saturday!? ronny: hey jimmy, how happy are folks who save hundreds of dollars switching to geico? jimmy: happier than paul revere wi
by the french and germans? >> on the economy it's pretty good. but there's a whole other part of discomfort, if you will, with some european leaders and it more has to do -- their reaction to president obama is just like any other politician's reaction to a politician that may not be as popular as they once were. president obama, the nsa things do not play well over here. there has been a frustration by some on the left in europe that president obama hasn't addressed the issue of climate change more aggressively. that's always been a much more important issue to europeans than it ever has been in the united states. and you sort of take all of that into account and so there certainly is -- you know, the shine has worn off. two years ago when president obama would come over here, you know, you know, figuratively throwing rose pe petals at his feet. he still has a huge audience a few hours ago in belfast for a speech he gave that was addressing northern ireland youth. he's going to get a huge number of people at the brandenburg gate when he makes that speech on the 50th anniversary of jfk spee
into the mirror to look at history. let's quickly revisit the highlights. this president brought the economy back from the brink through a stimulus program, a bailout of the american auto industry, strengthening financial reform and creating a dedicated government bureau to protect consumers. changing the composition of the supreme court by appointing two impressive women. and of course the largest progressive domestic policy to expand our social safety net in a generation, the affordable care act. for obama supporters accustom to all those policy successes, so far the second term may seem like it's off to a slow start but i think that changed this week. the president just took a crucial step towards the first big win of the second term on tuesday. advocates for immigration reform broke an attempted filfilibuste. now nothing should stop the senate for an up-or-down vote for landmarking legislation that would provide the u.s.'s first comprehensive immigration reform in almost three decades. if that happens, president obama will become the first president to make a lasting mark on immigration polic
office crunched the numbers and concluded that passing the immigration bill will boost the economy. >> court to this independent report, reforming our immigration system would reduce our deficits by almost a trillion dollars over the next two decades and boost our economy over more than 5%. >> and july first, that's the day the rates on many student loans will spike. they passed the speaker john boehner's bill that would put them 2.5 percentage points above the rate and -- he's frustrated with democrats not for getting on board. >> the president has failed to talk about this issue and hasn't lifted a finger to push his own party to pass his own proposal. the time for games is up. i think our kids deserve better. and the democrats need to get their act together so we can prevent these rates from doubling on july 1st. >> student loans are not the only piece of highly contentious legislation in d.c. right now. the republican led house didn't past the -- deep cut to food stamps combined forces to kill the bill. how does this body for issues like student loans. i'm joined now by two pan
resessions, we've always seen an uptick in these programs. when the economy improved, we always saw those levels retreat and go back down. this time it is not happening. no entitlements. do you think there is a political motive here with the far left which now control the white house and most of congress that they are actively trying to lock people into this government dependency to lock in a permanent democratic majority? >> i think that conclusion can be easily reached. because for one thing, to your point about usually when we see an economy move beyond the recession, we see these programs recede with them. we've seen almost a million additional households on food stamps in the course of the past year. that is unheard of, unthinkable. in terms of a dependency motive for this administration for the left that is represented by the democratic party in washington, i think that's entirely possible. but as troubling is that the right, the republican party has not come up with intelligence sustainable, effective solutions in response to what they see as the motivation and the program of this
in the economy. jetblue and southwest airlines are the top ranked by passengers in the latest performance survey. still, the airline industry as a whole ranks near the bottom of the service sector beating only fees for television and internet companies. needless to say this guy doesn't work for either of these airlines. more than a million people have viewed this of a guy chucking packages onto a conveyor belt. as you can see, he doesn't have very good aim. and now crime time. >> hey. >> the 38-year search for jimmy hoffa's body is one of america's great mysteries and this field in a michigan suburb might finally solve it. or maybe not. acting on a reliable tip from the son of a detroit mob boss and self proclaimed friend of hoffa, authorities are once again digging for the infamous remains. so far no body has been uncovered but there's evidence of cement. that would be significant because the source says hoffa was buried alive and covered over with cement. and best friend turned snitch. the friend of whitey bulger and former hitman john known as the executioner testified in the high-profile tri
of anything that harry or the sec did. in a bad economy, madoff's lies simply collapsed under their own weight. >> no one was investigating mr. madoff at the end. >> kroft: so he turned himself in before anybody in a position of authority began a serious investigation? >> that's typically how the sec does it. they come in after the crime has been committed, they toe-tag the victims, count the bodies, and try to figure out who the crooks were after the fact, which does none of us any good. >> stahl: the mastermind of the ponzi scheme of all ponzi schemes, bernard madoff, may be in prison, but he is hardly forgotten. his untidy little business that bilked thousands of people out of billions of dollars is no more, but the big question, "where did all the money go?" remains unanswered. irving picard is the court-appointed trustee assigned to find that money and return as much of it as possible to madoff's investors. it's a daunting and thankless task, for while he's suing whoever he can on behalf of the victims, he's also suing many of the victims, those, who he says, benefitted and should have kn
for a monday. housing continues to be a bright spot on our economy. homebuilder sentiment jumping to the highest level in seven years. gold dropping four and a half dollars to $13.83 per ounce. crude oil flat settling just under $90 per barrel. the bond market, the yield on the ten year rose to its just over 2%. developments in the irs scandal. irs supervisor in washington d.c. admitting she was personally involved in the viewing of some of the earliest applications for tea party groups who were seeking tax-exempt status, including dozens of requests that were neglected for more than a year somehow. her testimony to congressional investigators directly contradicts claims by the internal revenue service leaders just a small group of agents in cincinnati where the only ones responsible for the targeting of the tea party and conservative groups. and a cincinnati-based irs agent confirms pro-israel groups were also targeted -- well, treated differently from other applications that think is a way that they put it. he says, those requests were routinely routed to a unit that examines gr
for customers in economy class. that fee starts july 1st. over at united airlines a new offer for unlimited checked bags for one year at a cost of $349. >> you get a year's worth of free checked bags. if you are flying a lot it might be able to help you out. >> southwest and jet blue remain the only airlines offering a free checked bag. southwest allows passengers to check in two pounds bags in for free. again as long as it weighs under 50 pounds. >> shannon: that is why where i get in trouble. you are out there, what can i take out of that bag and put in that bag. it's going to cost me. [ laughter ] >>> thank you. >> shannon: already contentious debate is getting hotter. this time about healthcare and whether illegal immigrants should have access to free services paid for by your tax dollars. a free fair and balanced debate on that. ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ [ stewart ] this is the kind of food i love to cook. i'm very excited about making the shrimp and lobster pot pie. we've never cooked anything like this before. [ male announcer ] introducing red lobster's seaside mimatch. combin
to basically trying to fix the problems that had been created by international sanctions against iran's economy which has clearly affected the people so much there. and also the iranian people want to break out of the isolation that they are in. this probably puts more pressure to figure out if he can reach an accommodation with the united states. as you know all of these negotiations have led nowhere. we will see whether or not there is any chance. >> always great to have you on. thank you. >> good to be with you. >>> if we don't pass immigration reform and get it off the table in a reasonable practical way it doesn't matter who you run in 2016 we are in a demographic death spiral as a party. >> demographic death spiral. one of the gang of eight with a dire warning for his own party. will they listen? our panel will weigh in. >>> and a vote expected in the house this week on a controversial bill to ban abortions after 20 weeks. this week's bill looks different than the original version. congress woman here to talk about that next. >>> right after our show today remember to join me for a google
, maybe reducing somewhat. but our debt to gdp still bad. economy not turning around either. >> now to the irs. new trouble tonight. new allegations of former irs director steve miller was up to his eyeball plotting a coverup. >> good to see you, greta. >> explain where does the former director of the irs fits into the scheme to minimize, keep the lid on what happened, what is ultimately exposed at the irs. >> according to testimony given to congressional investigators, holly paz, lois lerner's assistant. ms. lerner knew about it at least as early as mid-2011, when according to the inspector general's report when she was briefed on it and essentially said we have to change these things. >> so they ruled out this phony thing, where lois lerner went to this aba meeting and got some woman lawyer, essentially her patsy to ask her a phony question, and the phony question was about the targeting, and this is all in anticipation of the report coming out in a few days and that sort of plot was also according to ms. paz, was hatched by the director of the irs? >> well, we don't know those --
to grow. the deficit -- maybe you are reducing somewhat, but the debt to gdp ratio is bad. and the economy's not turning around. >> nice to see you. >> thank you. >> the irs. there is more trouble. new allegations that steve miller was up to his eyeballs in trying to keep the ugly details of the targeting from you, going to far as to plot a coverup. we have a washington times reporter here. >> good to see you. >> explain to me where the former director of the irs fits into the scheme of minimizing or keeping the lid on what happened, what was exposed at the irs. >> well, according to testimony given to the congressional investigators by holly paz, essentially, lois lerner's deputy at the irs in washington, miss lerner and mr. miller had discussed some sort of plan to roll out the unfolding irs scandal. miss lerner knew about it at least as early at mid 2011 when according to the inspector general's report, when she was briefed on it and essentially said, we have to change these things. >> so they rolled out this phony thing where lois lerner went to the aba meeting and got a woman lawyer,
it makes in sense to cut those programs when you have the need. it stimulates the economy. when people get food stamps they go out and buy things. that helps the economy and creates jobs. it makes no sense. >> what was interesting you and your colleagues for the most part in terms of the democratic party said this went way too far. the republicans said it didn't go far enough. with that big of a divide did we expect dmanything to get throug? >> it's going to be tough. i know you talked about the immigration reform. i think there's an effort on the part of the republican leadership to try to pass an immigration reform bill. they are putting so many roadblocks in the way. in the house you may have read that they voted on an amendment. this was like a tea party right wing amendment that makes being in the united states a crime. another amendment that gets rid of the dreamers act that lets young people stay here and not be deported. then the speaker is saying he won't let the bill go to the floor unless it has a majority of the republicans which would include the tea party. we've got a long wa
economy. one report this week had individual investors throwing in the ttwel on 17 # billion in bond fund investments. before you give in, remember this, the high education ever mortgage rates according to freddie mack back in early october of 81. 18.6%. hey, things could be worse. that's my two cents more. that's all for tonight's willis report. have a great weekend. weekend. lou: good evening, everybody, and thank you for being withs. breaking news tonight, federal prosecutors have filed chaes against nsa weaker edward snowden. they have charged snowden with espionage, tft and conversion of government property. a jurisdictionith a long history of prosecuting espionage cases must warn the deveping story throughout the broadcast. and the president officially nominated this man to replace robert mueller
and in our economy right now. i do not doubt that people do want to hear this. i think it is unrealistic of them to one cngressr individual congresspeople to be their heroes. the syst just isn't set up for this collective body to produce a hero. i don't think there e any easy answers to the problem might not. neil: no one was expecting this. no one wasxpecting it at all. so maybe we stumbled upon i when we least expect t. >> i agree wit adam i think that they're oureroes outthere. and they do sh up in the campaign tailand they are wrote. when they get into he system, something turn some away from what they intended tt do when ey first set out the. neil: what do you think? >> i thinkthat the system is set up for them not to emrge as heroes. that is not a bathing. we elect tem to go t washington and fight for us. i agree tt things e not working as well as we wish that they would. ut it is going to be confrontational. it is going to be messy. its not set up for one person to rise up and say, i will sve all of this for you. >> we have had a lot of people do this. >>t the ment you do not real
, because i'm raising two girls on my own. i'll worry about the economy more than a few times before they're grown. but it's for them, so i've found a way. who matters most to you says the most about you. at massmutual we're owned by our policyowners, and they matter most to us. ready to plan for your future? we'll help you get there. because vitamin d3 helps bones absorb calcium, caltrate has the highest level of vitamin d3. more than any other brand, to help maximize calcium absorption. so caltrate women can move the world. >>> another new poll from massachusetts shows ed markey there, the congressman making good progress in the special election for the election next tuesday. according to a new poll, markey has an 11-point read over republican gabriella gifford, markey 54, gomez 43. the election is next tuesday. we hope to be up there to cover it. we'll be right back. [ slap! slap! slap! slap! ] ow! ow! [ male announcer ] your favorite foods fighting you? fight back fast with tums. calcium-rich tums starts working so fast you'll forget you had heartburn. ♪ tum tum tum tum tums [ male
, i think it's a stupid idea to bring this up. the economy is on everybody's mind. we're seeing stagnant job numbers. confidence in the government is eroding, and now we're going to have a debate on rape and abortion? this doesn't seem like the way for republicans to win back the middle politically. joining me is joan walsh and michael steele, his new book is the recovering politicians 12-step program to survive crisis. both by the way are great members of our team here. the debate on the bill, the pain capable unborn child protection act has been heated on the house floor. here are two congresswomen, debbie wasserman schultz on one side, michele bachmann on the other. let's catch the debate. >> this bill is extreme and an unprecedented reach into women's lives, into women's personal lives. this is a clear indication that the well-being of women in this country is not something republicans care to protect. >> this is a picture that was taken of an unborn baby yesterday. this is the age of a baby, the youngest age at 20 weeks that this bill is referencing. and this is the picture
. last year brazil became the sixth largest economy in the world. but income and equality is a huge issue. about one in five people live below the poverty line. demonstrators are protesting in part against billions of dollars being funneled not into education or health care or other basic needs for the population, but into big spectacular events. into stadiums and if a sill advertise being built for brazil to host the world cup and the summer olympics. the cost to host the world cup is estimated to top $13 billion. the protests today around the stadium, this is brazil today a supposed day off from the protests. these have been incredibly dramatic. incredibly big protests. the main organizers say tomorrow is not the day off it will be the day to watch for when everybody should be expected to hit the streets. it's going to be a big news story tomorrow. watch it here. [ male announcer ] this is kevin. to prove to you that aleve is the better choice for him, he's agreed to give it up. that's today? [ male announcer ] we'll be with him all day as he goes back to taking tylenol. i was okay, but
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